NewEdge Advisors LLC Sells 79,751 Shares of APA Co. (NASDAQ:APA)

NewEdge Advisors LLC reduced its stake in APA Co. (NASDAQ:APA - Free Report) by 91.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,207 shares of the company's stock after selling 79,751 shares during the period. NewEdge Advisors LLC's holdings in APA were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in shares of APA by 154.2% during the third quarter. Tidal Investments LLC now owns 62,400 shares of the company's stock valued at $1,526,000 after purchasing an additional 37,855 shares in the last quarter. Synovus Financial Corp boosted its position in APA by 144.3% during the 3rd quarter. Synovus Financial Corp now owns 30,925 shares of the company's stock worth $756,000 after buying an additional 18,268 shares during the period. Principal Financial Group Inc. grew its holdings in APA by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 456,922 shares of the company's stock worth $11,176,000 after acquiring an additional 13,557 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of APA by 55.1% during the fourth quarter. GAMMA Investing LLC now owns 7,881 shares of the company's stock valued at $182,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in APA by 44.4% in the fourth quarter. Nordea Investment Management AB now owns 54,091 shares of the company's stock valued at $1,257,000 after purchasing an additional 16,631 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APA has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on APA from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Morgan Stanley set a $20.00 target price on shares of APA and gave the stock an "underweight" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Raymond James lowered APA from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Finally, Piper Sandler cut their target price on APA from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $25.79.

APA Stock Up 1.5 %

Shares of APA stock traded up $0.23 during trading hours on Tuesday, reaching $15.73. The company had a trading volume of 7,387,337 shares, compared to its average volume of 6,836,040. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41. The business has a fifty day simple moving average of $17.89 and a 200-day simple moving average of $21.14.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. On average, research analysts expect that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date is Tuesday, April 22nd. APA's payout ratio is 44.25%.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.